Peruvian Superior Court Unanimously Confirms Title of American Lithium’s 32 Disputed Mineral Concessions
Peruvian Superior Court Unanimously Confirms Title of American Lithium’s 32
Disputed Mineral Concessions
VANCOUVER, BRITISH COLUMBIA, November 15, 2023 – American Lithium Corp. (“American Lithium” or
the “Company”) (TSX-V:LI | NASDAQ:AMLI | Frankfurt:5LA1) is pleased to announce that a three judge
tribunal of Peru’s Superior Court SALA 4 specialized in administration disputes has unanimously upheld
the ruling of the lower court judge from Court SALA 6 announced on November 2, 2021 in favour of the
Company’s subsidiary, Macusani Yellowcake (“Macusani”) in relation to title over 32 disputed concessions
out of 172 owned by Macusani.
The Court ruling, consistent with prior legal proceedings, clearly establishes that Macusani is the rightful
owner of these concessions. Furthermore, it highlights that the action launched by INGEMMET and
MINEM in October 2018 was baseless and unsubstantiated.
Simon Clarke, CEO of American Lithium states, “We are extremely pleased with this ruling as it validates
the Company’s contention that the actions of INGEMMET and MINEM were inappropriate from the start
of this process. It is very encouraging to see that the Pe ruvian Judicial System continues to support the
facts of this case and has found against INGEMMET and MINEM for the actions they have taken. The
Company has never lost title over the disputed concessions, which only represent a small fraction of our
leases. For this reason, we have continued to advance the Falchani project and look forward to the
announcement of additional progress shortly.”
About American Lithium
American Lithium is actively engaged in the development of large -scale lithium projects within mi ning-
friendly jurisdictions throughout the Americas. The Company is currently focused on the continued
development of its strategically located TLC Lithium Claystone Project in the richly mineralized Esmeralda
lithium district in Nevada, as well as contin uing to advance its Falchani Hard -rock Lithium Project and
Macusani Uranium Project in southeastern Peru. All three projects, TLC, Falchani and Macusani have been
through robust preliminary economic assessments, exhibit strong significant expansion potenti al and
enjoy strong community support. Pre-feasibility work is advancing well at Falchani and at TLC.
For more information, please contact the Company at [email protected] or visit our website
at www.americanlithiumcorp.com.
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On behalf of the Board of Directors of American Lithium Corp.
“Simon Clarke”
CEO & Director
Tel: 604 428 6128
For Media Inquiries:
Nancy Thompson
Vorticom, Inc.
212-532-2208
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press
release.
Cautionary Statement Regarding Forward Looking Information
This news release contains certain forward-looking information and forward-looking statements
(collectively “forward-looking statements”) within the meaning of applicable securities legislation. All
statements, other than statements of historical fact, are forward-looking statements. Forward-looking
statements in this news release include, but are not limited to, statements regarding the ability to appeal
the judicial ruling, the anticipated completion of pre-feasibility work, and any other statements regarding
the business plans, expectations and objectives of American Lithium. Forward-looking statements are
frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend",
“indicate”, “scheduled”, “target”, “goal”, “potential”, “subject”, “efforts”, “option” and similar words, or
the negative connotations thereof, referring to future events and results. Forward-looking statements are
based on the current opinions and expectations of management and are not, and cannot be, a guarantee
of future results or events. Although American Lithium believes that the current opinions and
expectations reflected in such forward-looking statements are reasonable based on information available
at the time, undue reliance should not be placed on forward-looking statements since American Lithium
can provide no assurance that such opinions and expectations will prove to be correct. All forward-
looking statements are inherently uncertain and subject to a variety of assumptions, risks and
uncertainties, including risks, uncertainties and assumptions related to: American Lithium’s ability to
achieve its stated goals;, which could have a material adverse impact on many aspects of American
Lithium’s businesses including but not limited to: the ability to access mineral properties for
indeterminate amounts of time, the health of the employees or consultants resulting in delays or
diminished capacity, social or political instability in Peru which in turn could impact American Lithium’s
ability to maintain the continuity of its business operating requirements, may result in the reduced
availability or failures of various local administration and critical infrastructure, reduced demand for the
American Lithium’s potential products, availability of materials, global travel restrictions, and the
availability of insurance and the associated costs; the judicial appeal process in Peru, and any and all
future remedies pursued by American Lithium and its subsidiary Macusani to resolve the title for 32 of its
concessions; the ongoing ability to work cooperatively with stakeholders, including but not limited to
local communities and all levels of government; the potential for delays in exploration or development
activities; the interpretation of drill results, the geology, grade and continuity of mineral deposits; the
possibility that any future exploration, development or mining results will not be consistent with our
expectations; risks that permits will not be obtained as planned or delays in obtaining permits; mining
and development risks, including risks related to accidents, equipment breakdowns, labour disputes
(including work stoppages, strikes and loss of personnel) or other unanticipated difficulties with or
interruptions in exploration and development; risks related to commodity price and foreign exchange rate
fluctuations; risks related to foreign operations; the cyclical nature of the industry in which American
Lithium operates; risks related to failure to obtain adequate financing on a timely basis and on
acceptable terms or delays in obtaining governmental approvals; risks related to environmental
regulation and liability; political and regulatory risks associated with mining and exploration; risks
related to the uncertain global economic environment and the effects upon the global market generally,
any of which could continue to negatively affect global financial markets, including the trading price of
American Lithium’s shares and could negatively affect American Lithium’s ability to raise capital and may
also result in additional and unknown risks or liabilities to American Lithium. Other risks and
uncertainties related to prospects, properties and business strategy of American Lithium are identified in
the “Risk Factors” section of American Lithium’s Management’s Discussion and Analysis filed on May 29,
2023, and in recent securities filings available at www.sedar.com. Actual events or results may differ
materially from those projected in the forward-looking statements. American Lithium undertakes no
obligation to update forward-looking statements except as required by applicable securities laws.
Investors should not place undue reliance on forward-looking statements.